I.P.O. determinants of delisting risk: Lessons from the Athens Stock Exchange

Michalis Makrominas and Yiannis Yiannoulis ()

Accounting Forum, 2021, vol. 45, issue 3, 307-331

Abstract: Using data from the Athens Stock Exchange, we investigate early warning signs of delisting risk. We find that the probability of delisting and time to delist are positively associated with relative offer size and earnings’ manipulation, and negatively associated with hot-issuance periods and the joint effects of audit quality, amount of information in the I.P.O. prospectus, and the percentage of non-voluntary information. Our results are more strongly in line with asymmetric information explanations and more prevalent for voluntary delisted firms. Documenting I.P.O. survival factors for a new and different class of stocks extends the range of explanations for delisting risk.

Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1080/01559982.2021.1885253 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:accfor:v:45:y:2021:i:3:p:307-331

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/racc20

DOI: 10.1080/01559982.2021.1885253

Access Statistics for this article

Accounting Forum is currently edited by Carol Tilt

More articles in Accounting Forum from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().